I thought this looked like a toy erector set project … until I saw the two men below.
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Lots more too: https://x.com/aurynmining/status/1992347566898548805?s=20
Just follow Auryn Mining on Twitter(X).
Madmen, if you need me to post all the pictures here, just let me know.
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Probably nothing though.
Taking advantage off the dry conditions and clearly picking up the pace. Good to see. They may be able to kick off commissioning as early as Feb,
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Please post all the pictures, Bubba! Much appreciated by me and any other Luddites or tech-phobic Twitter-hating septuagenarians like me out here.
– madmen
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Bubba, you apparently believe in duplicates, triplicates.
How do you see the share price in the future … 2X, 3X, or 10X, and what is the time frame for your choice ?
Rod
Sorry about the duplicates/triplicates - was just trying to help Madmen out - I’ll see if the system will let me delete some of it.
I have no idea when or if there will EVER be any movement in the share price - my crystal ball stopped working a long time ago. In fact, I’ll say I HOPE the share price doesn’t ever change much from what it is now - and that they start paying dividends sometime next year. If there is no share price appreciation because they haven’t drilled 1,000 holes, that’s just fine with me, as long as they pay dividends. For now, my heart is content with these guys moving forward, making progress now on a monthly basis.
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Gold chart is looking like another bullish run. Is this perfect timing or what?
Only been 15 years and will I recoup or make anything on this poor choice of an investment?
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BB insists this is a world class discovery. What good is a world class discovery if we’re all dead before they monetize it? MC’s great grandchildren kids can enjoy the riches I guess. We’re beginning smale scale production in 2026 which is great but they should be simultanously pursuing getting a JV for the Copper porphyry before we’re all dead. This is the time when Majors are willing to invest. They brought those 2 guys on board to make deals right? So…… start making some dam deals! Where’s Freeport McMoran?
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How do you know they are not?
And, do you really think they’d tell you or anybody else if they were? Great way to queer a deal. Ever heard of NDAs?
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Let’s hope this is the fact. I hope all the MDMN longs don’t get screwed.
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Yeah, it’s certainly been a LONG road for us, full of drama, and the frustration is understood, but it’s looking like we’re on the doorstep of production. I was reading one of BB’s recent posts and saw where he was talking about them ordering ADDITIONAL equipment, presumably to scale production, although were not told how much.
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Yeah, Freeport McMoran! 
(Molybdenum)
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Because there’s not a resource. Rememer the thing you “don’t care about.” There is ZERO chance a major is going to JV for a property based on a hunch or (chuckle, chuckle) historical mining. There are thousands of massive resources to pick from, still trading at massive discounts ($10-$50 per ounce in the ground).
By way example, at its current valuation, Bonterra Resources is trading at an implied in-ground value of only CA$12-$15 per ounce of gold, based on a market cap of roughly CA$40M and a total resource of about 3 million ounces. In the last bull market (2011) these types of exploration plays, in prolific mining areas were being acquired for over $200oz. Full disclosure, I’m long this stock and have no interest in any attempts of comparing AUMC to Bonterra. Its too painful to read BUT the point is that, due to this massive discount in defined resource, which I believe will narrow, the majors have unlimited opportunities to JV. Bonterra JV’d with Osisko (later acquired by Gold Fields) in 2023.
If they were able to enter a JV the terms for AUMC would be outrageously unattractive b/c they have no leverage/resource.
While I would agree that most folks won’t be around to enjoy the full potential of a WCD (if that turns out to be true), Maurizio would still be better served to take any FCF and allocate towards drilling some holes and defining a resource. The last time I spoke with him that was the plan. Another reason why dividends, even if there is consideralbe profitability, ain’t happening.
Doesn’t matter if your 20 or 80 years old, this project is still at the very early ages of its life cycle. Nobody gets to jump to the front of the line b/c they’ve been stuck in a stagnant project for the past 3 decades. Said differently, its your perrogative to celebrate 70 million shares outstanding because Maurizio went rogue and decided that a resource wasn’t necessary but you have to live with the limitations of going this route. You have already suffered though the initial limitations (false starts and stops of production, not being able to close an offtake, finding the same vein 3 times, 8 years of waiting, etc.) Going forward JV’s are not part of the equation. And you don’t get to a P/E of 30x without a mine life. And you have to accept huge swings in quarterly cash flows when blindly chasing a vein, etc. etc. etc.
Am I schizophrenic, or is somebody else?
BE first says:
“There is ZERO chance a major is going to JV for a property based on a hunch or (chuckle, chuckle) historical mining.”
Then, two paragraphs later, BE says:
“If they were able to enter a JV …..”
I can’t believe a layman (such as little old me) has to help you out, but allow me to educate you.
A “JV” is defined as a contract between two or more parties, typically involving a partnership in the exploration and development of a gold mining site."
Not only do I anticipate Auryn will enter into a JV agreement in the future for the PDN property, but they ALREADY have done so in the past with respect to the LDM. Ever heard of Hochschild? Yes, they decided to abandon the Agreement, and we think because they made precisely the SAME decision with respect to other properties they had AT THE TIME. They did NOT abandon the Agreement because they finally realized that the owner has to first drill holes in order to induce them (are you awake yet?), or on account of having drilled holes with no results.
But, allow me to ask: Did MDMN/Auryn already have 1,000 drill holes at inception of the JV agreement, complete with assays, in order to INDUCE Hochschild into such a JV agreement?
The answer is NO. Period.
In fact, the entire purpose of the Hochschild JV agreement was for exploration and then the subsequent option to further develop.
This is just my opinion, but I believe management is gonna first take some time to enjoy dividends - and then when they have plenty of money in the bank start with their own drilling program. Once they have assays proving the porphyry(ies), they will then be in a position of STRENGTH and will bend Hochschild/Freeport/Whoever over the chair and make’em take it like we’re gonna give it to them. Better than fair terms, in our favor.
This is what proprietors do. Watch and learn.
In the meantime, make up your mind, Mr. Expert, and when you come on here, feel free to make an eftort to try and educate us about the facts as they ARE. I seem to learn a LOAD from BB, but when it comes to you, you seem to be …… stuck on something.
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Well now you’re just hurting my feelings.
Many thanks for the education on JV’s. To be clear, you’re saying that the failed JV with Hochschild is an indicator of more JV’s in the future? I’m shocked you brought up this JV to support whatever thesis you seem to be pushing. As a reminder, in return for spending/drilling $7M over 5 years Hochschild was given 51%(!) of the LDM. Even with those insanely attractive terms they decided to bail after they carried out some basic field programs and geophysics. Not a great sign. To add insult to injury, they required AUMC to to undertake their own exploration drill program in order to properly evaluate the potential or lack thereof mineralization. Sooo, they get 51% after AUMC spends their own money to prove up the asset? (refer back to my comments on JVs on no resources).
You and the illustrious BB can (and have) offered opinions on dividends for as long as I’ve been involved here. It hasn’t and won’t happen.
You’re a grown man. It’s not my responsibility to educate you. Consider yourself one of the last of a handful of minions who are still following the same North Star. Unfortunately, this particular star is defunct satelllite that lost communication 25 years ago.